Zillow Group (NASDAQ:ZG) Price Target Cut to $62.00 by Analysts at JMP Securities

Zillow Group (NASDAQ:ZG) had its price objective lowered by JMP Securities from $68.00 to $62.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the company. Stephens reaffirmed an overweight rating and set a $79.00 target price on shares of Zillow Group in a research report on Wednesday, February 14th. Benchmark restated a buy rating and set a $60.00 price objective on shares of Zillow Group in a report on Tuesday, April 30th. Bank of America cut shares of Zillow Group from a buy rating to a neutral rating in a report on Wednesday, January 10th. Susquehanna upped their target price on shares of Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Finally, DA Davidson reiterated a buy rating and set a $63.00 price target on shares of Zillow Group in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group has an average rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Trading Up 2.2 %

ZG opened at $40.07 on Thursday. The company has a fifty day moving average price of $47.44 and a two-hundred day moving average price of $47.59. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The company has a market cap of $9.35 billion, a P/E ratio of -58.07 and a beta of 1.87. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Analysts predict that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Amy Bohutinsky sold 93,750 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now directly owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Zillow Group in the 4th quarter worth approximately $102,096,000. Vanguard Group Inc. boosted its holdings in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after acquiring an additional 1,730,731 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. UBS Group AG raised its stake in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Zillow Group by 244.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after purchasing an additional 121,942 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.